Sime Darby gets judgment against ex-CEO, top executives over losses incurred
(TMI) – Sime Darby Berhad has entered into consent judgment in two separate lawsuits involving its former president and group chief executive Datuk Seri Ahmad Zubir Murshid and its senior executives over losses suffered in the Energy and Utilities Division (E&U) in the 2010 financial year, the conglomerate said in a statement today.
The lawsuits were initiated in 2010 following the announcement on the losses.
In the oil and gas suit, the five defendants have agreed to judgment in respect of certain relief stated in the Statement of Claim which relate to losses incurred in the Qatar Petroleum Project, the Maersk Oil Qatar Project and the Marine project.
The defendants also agreed for the court to assess damages for the claims, except for matters relating to Incobliss Consulting Sdn Bhd.
They also agreed for the plaintiff to enforce the judgment against them only after recovering all claims from the Qatar Petroleum Project, the Maersk Oil Qatar Project and the sale proceeds of a derrick lay barge, or after three years from the final judgment date for the assessed amount, whichever is earlier.
